Dynasty Metals & Mining Inc. (TSX:DMM)("Dynasty" or the "Company") reports that Sprott Asset Management ("Sprott") has agreed to purchase 1,000,000 common shares out of a non-brokered private placement of up to 1,500,000 common shares of the Company at a price of $7.50 per share, for total proceeds of $11,250,000.

Upon completion, which is subject to final documentation and approval of the Toronto Stock Exchange, Sprott will own 6,837,900 common shares, or approximately 22.2% of the Company's issued shares.